RSA closes reinsurance operation
Royal & SunAlliance has suspended its reinsurance operations in London, but it’s not in response to the company’s estimated $381 exposure to the September 11 attacks. That’s the promise of a company spokesman, who said the suspension is the result of the company’s review of whether it will continue as a London market reinsurer.
The company writes about $726 million in reinsurance premiums in the London market. Smaller reinsurance operations in Singapore and Belgium will continue.